Accurate Wealth Management LLC Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Posted by on Mar 20th, 2023

Accurate Wealth Management LLC purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,488 shares of the real estate investment trust’s stock, valued at approximately $146,000.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Lamar Advertising by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,086,290 shares of the real estate investment trust’s stock worth $1,520,365,000 after purchasing an additional 43,704 shares in the last quarter. Victory Capital Management Inc. raised its stake in Lamar Advertising by 15.0% in the third quarter. Victory Capital Management Inc. now owns 4,112,703 shares of the real estate investment trust’s stock valued at $339,257,000 after buying an additional 536,345 shares in the last quarter. State Street Corp raised its stake in Lamar Advertising by 1.5% in the third quarter. State Street Corp now owns 2,423,689 shares of the real estate investment trust’s stock valued at $199,930,000 after buying an additional 36,807 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Lamar Advertising by 7.3% in the third quarter. DAVENPORT & Co LLC now owns 1,829,632 shares of the real estate investment trust’s stock valued at $152,015,000 after buying an additional 123,915 shares in the last quarter. Finally, Boston Partners raised its stake in Lamar Advertising by 26.6% in the third quarter. Boston Partners now owns 1,607,951 shares of the real estate investment trust’s stock valued at $132,674,000 after buying an additional 338,090 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup raised their price target on Lamar Advertising from $108.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. JPMorgan Chase & Co. raised their price target on Lamar Advertising from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, February 27th. Finally, StockNews.com assumed coverage on Lamar Advertising in a report on Thursday. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $116.75.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $93.82 on Monday. The company has a 50-day moving average price of $103.56 and a 200 day moving average price of $96.26. Lamar Advertising has a 52 week low of $81.10 and a 52 week high of $119.68. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.58. The company has a market cap of $9.55 billion, a P/E ratio of 21.72 and a beta of 1.39.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.04). Lamar Advertising had a net margin of 21.58% and a return on equity of 35.56%. The company had revenue of $535.51 million for the quarter, compared to analyst estimates of $536.42 million. During the same quarter in the previous year, the business posted $1.78 earnings per share. Lamar Advertising’s revenue was up 8.3% on a year-over-year basis. Research analysts predict that Lamar Advertising will post 7.24 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a $1.25 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Thursday, March 16th. Lamar Advertising’s payout ratio is presently 115.74%.

Lamar Advertising Company Profile

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Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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